Need to Trade In Smart - Am I Getting Low Balled?

mjeagent · 10-17-2008, 07:01 PM

Due to the fact that I must now transport my 3 year old in my daily commuter as opposed to my wife's Escalade I must trade in my Smart. Went to a BMW dealership today to trade it and was surprised at the number they put on it. Was told by the dealership's sales manager that he made calls to several local dealers including a Smart car dealer in Florida. He was told $12,000; $14,000; and $14,500. He said that he really wanted to make a deal and that he would give me $15,500. This is for a 2008 black passion cabriolet with premium package and power steering. When I look on cars.com I see that others are selling for about $20, 21k. I don't want to go through the trouble of posting it on craigslist and such. is it worth a trip to CarMax to have them put a number on it?

Orphan-Beggar · 10-17-2008, 07:09 PM

Affirmative

Bacoes · 10-17-2008, 07:21 PM

I wouldn't take less than $18-18.5k for mine which is a similiar spec. That still leaves the dealership a grand or two to make on resale. It would come down t o whether or not the dealership wants to have it on the lot (no way they are sending it to auction) or another of whatever you're looking at.

mjeagent · 10-17-2008, 07:31 PM

He told me that he was going to keep in on the lot because "it would help him sell some Minis" (whatever that means). I also thought that $18-18.5 would be fair. He was having none of it. With the economy the way it is and a car like mine that has less than 1000 miles on it I thought that they would jump on it.

Bacoes · 10-17-2008, 07:43 PM

I can't imagine he wouldn't come back with more if try to walk, especially if there is another dealer in the area. Most dealerships should be pretty open to making a deal to get a new vehicle off the lot. I'd hope he'd come back with $17k to try to get you to pull the trigger. IMHO, anything less and it would be worth holding and buying a late model used car.

Old Panda · 10-17-2008, 07:51 PM

Quote:

Originally Posted by mjeagent

When I look on cars.com I see that others are selling for about $20, 21k.

I understand your frustration, but keep in mind that the prices you see is NOT necessarily what they are selling for.

'If' a dealer is offering to give you $15,500, he'll probably list it for $21k and take $18-19k. He'll make $2,500 minimum.

You could list it yourself for $18-19k, but you also may have to wait a month or two to sell it. Can you wait that long? If the answer is YES, then advertise it on "autotrader.com" and "cars.com". These are two great venues for car sales.

BUT with the economy the way it is, there aren't as many people out there willing to part with that kind of cash or go into debt (if they can even get a loan) for something that can be construed as a 'toy'.

Good luck selling your smart. I'm sure someone will come along and buy it, it may be just a matter of time however.

Big Panda OUT!

P.S. Remember, gas prices are down now as well. If gas was still at $4.00+ gal, you could probably get more.

orangecones3 · 10-17-2008, 08:32 PM

i wouldn't worry about that. just wait until bush's next speach and we are guaranteed to hit $4 gas land once again. \

also, yes, $15.5 is a huge low-ball

Arch · 10-17-2008, 08:35 PM

When you go to trade in a car, you have to have your "number" in mind beforehand. This number needs to be realistic and based on the understanding that the dealer is business to earn a profit. If that number doesn't sit well with you, then it's time to put the car on the open market yourself.

Realistically, as long as people are waiting months and months to buy a fortwo, assuming your's is as new, then the car's retail worth is about what it stickered for when new. But only to the right buyer. That is, someone who wants that exact car and doesn't want to reserve and wait. Finding them is up to you.

So it's up to you to decide whether waiting for that right buyer to find it on the open market is worth the effort. Otherwise, you're selling the car to a business whose sole purpose is to buy cars for less than they're worth. It's not underhanded or unfair in any way. It's just business.

Arch

**jwight** · 10-17-2008, 08:35 PM

Sounds like a reality check to me; any car is only worth what someone is willing to pay for it. Not that you asked, but if it was my call I'd take the money and run.

jediknight36 · 10-17-2008, 09:03 PM

Have you asked the smart center to buy it back? The Dallas center told me that if I wanted to get rid of it that they would buy it back. They cant keep orphans on the lot more than 3 days. Try your smart dealer.